Man wants to run for election wants to know the chances of him winning

SD of Box can be used using the SD Shortcut Method

SD = Square Root (Fraction 1 x Fraction 2)

Example:

#Draws =2500

1328 favored candidate

Ave = .53

Ave not in Favor = .47

SD = SQRT(.53 x .47) = about .50

SE = (SQRT[2500] x SD) = 50 x .5 = 25

Chance error is 25 out of 2500

that is less than (25/2500) = 1%

He should run for election

Bootstrap

When sampling from a 0-1 box whose composition is unknow the SD of the box can be estimated by substitution the fractions of 0s and 1's in the sample for the unknown fractions in the box the estimate is good when the sample is reasonably large

Bootsrap method

25000 students registered students. Estimate sample of university students living at home.